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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
 Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs amid lower commodity prices.
Mining companies continue to move operations in-house, renegotiate service contracts to reduce value or scope, extend payment terms and limit further exploration as they seek to minimise costs and restore profitability. This directly impacts the work contracted to mining services companies, either squeezing margins, delaying cash inflows or reducing the pipeline of work available.
The decision last week by Fortescue Metals Group Limited not to renew its contract with Downer EDI Limited, as its moves to an owner-operator model at its Christmas Creek mines, highlights this trend. Fortescue had also reduced the scope of the contract in February 2015. In addition, Rio Tinto Ltd announced last week that it was extending its supplier payment terms to 90 days from 45 days for contracts greater than USD3m, and to 60 days for contracts under this threshold. Other solutions over the past year include Atlas Iron announcing a profit sharing arrangement linked to iron ore prices with its contractors to address the impact of price volatility on its returns.
Fitch expects mining service companies with limited operations outside the resources sector to be more affected by the mining companies' actions because they have fewer opportunities to replace lost revenues. Fitch downgraded Emeco Holding Limited's Issuer Default Rating by two notches to 'B-' in September 2015, which reflected the impact of the prolonged weakness in global commodity markets on its profitability, cash flows and scale. The recent insolvencies of Civil Australia Holdings and WDS Ltd. continue to highlight the increasing challenges smaller mining service companies face in this new environment.
Larger and more diversified engineering firms, such as Downer, are likely to be less affected by the miners' actions. Their exposure to other sectors, including infrastructure and civil sectors, allows them to mitigate any loss of mining services revenue.
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Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
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- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
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